The first step is to go to the website of a publically-traded UScompany and select the most recent 10-K Form (legally-requireddocument publicly-traded companies must submit to the Securitiesand Exchange Commission [SEC] on an annual basis. Among otherthings, this document contains the opinion of the CPA firmregarding the company's financial statements and adherence toGenerally Accepted Accounting Principles [GAAP]. The contents ofthis form will be the basis of the team assignments in throughoutthe course. Consider and discuss the specific risks and nature ofthe company you will be auditing. Create comprehensive auditprograms for the cash, financial instruments, sale, and receivablesaccounts and cycles. Submit a 1,400- to 1,750-word document thatincludes: Audit steps for tests of controls, balances,transactions, analytical procedures, etc. as well as otherconsiderations such as sample size and sample methodology. A briefsummary page should be included in this document, 350 to 700 wordsfor each of the audit programs. Include in this summary specificfinancial information gleaned from the current Form 10-K used toperform an analysis of work program steps. For example, if the teamnoted significant swings in the Receivables balance year-over-year,identify these swings and how you address them in your work program(this is in essence an audit procedure - analytical review).
Wal-Mart is the selected company
The first step is to go to the website of a publically-traded UScompany and select the most recent 10-K Form (legally-requireddocument publicly-traded companies must submit to the Securitiesand Exchange Commission [SEC] on an annual basis. Among otherthings, this document contains the opinion of the CPA firmregarding the company's financial statements and adherence toGenerally Accepted Accounting Principles [GAAP]. The contents ofthis form will be the basis of the team assignments in throughoutthe course. Consider and discuss the specific risks and nature ofthe company you will be auditing. Create comprehensive auditprograms for the cash, financial instruments, sale, and receivablesaccounts and cycles. Submit a 1,400- to 1,750-word document thatincludes: Audit steps for tests of controls, balances,transactions, analytical procedures, etc. as well as otherconsiderations such as sample size and sample methodology. A briefsummary page should be included in this document, 350 to 700 wordsfor each of the audit programs. Include in this summary specificfinancial information gleaned from the current Form 10-K used toperform an analysis of work program steps. For example, if the teamnoted significant swings in the Receivables balance year-over-year,identify these swings and how you address them in your work program(this is in essence an audit procedure - analytical review).
Wal-Mart is the selected company
